Property Detail

Description

Exceptional commercial development opportunity in the heart of growing Menifee. Offered at $6,000,000, this approximately 4.77-acre (207,781 SF) site consists of five contiguous parcels of flat, usable land along the highly traveled Newport Road corridor, with convenient access to the I-215 freeway. Located within the Cal Neva Specific Plan, Planning Area 2-4, the property is ideally positioned for investors, developers and owner-users seeking a substantial commercial site in one of Southwest Riverside Countys growing communities. Surrounded by established retail, restaurants, businesses and residential neighborhoods, the property benefits from a strong location within the expanding Newport Road commercial corridor. With utilities reported at the street, excellent accessibility and nearly five acres offered together, this is a compelling opportunity to create a significant commercial project in a rapidly developing market. APNs included: 360-050-031, 360-050-032, 360-050-033, 360-050-034 and 360-050-035. VALUE OPPORTUNITY: Two adjoining parcels within the same development APN 360-050-022 (42,253 SF) and APN 360-050-023 (42,253 SF) previously sold for $1.4 million each. This five-parcel offering averages just $1.2 million per parcel, offering significant value compared with the adjoining parcel sales. Seller may consider the sale of individual parcels or a combination of parcels, subject to receiving a strong, competitive offer with favorable terms. Preference is given to the sale of all five parcels together; however, exceptional offers for individual parcels will be cons